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Essilor International SA (ESSI.PA)

ESSI.PA on Paris Stock Exchange

23 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Luxottica chairman confirms 2017 guidance, sees improvement next year
Friday, 28 Apr 2017 07:31am EDT 

April 28 (Reuters) - Luxottica founder and executive chairman Leonardo Del Vecchio tells shareholder meeting::confirms 2017 guidance.sees improvement next year, with profits rising at double the rate of revenues' growth.  Full Article

Essilor says will continue to examine bolt-on acquisition opportunities
Tuesday, 25 Apr 2017 04:50am EDT 

April 25 (Reuters) - Essilor ::Says company will continue to examine bolt-on acquisition opportunities.Earlier this year, Essilor and Luxottica unveiled a merger plan of 46 billion euros to create a global eyewear powerhouse with annual revenue of more than 15 billion euros nL5N1F50X1.  Full Article

France waives mandatory bid obligation in Essilor-Luxottica merger
Wednesday, 12 Apr 2017 12:45pm EDT 

EssilorLuxottica: French market watchdog waives mandatory bid obligation for Leonardo Del Vecchio's holding company Delfin in Essilor-Luxottica merger - document . Merger deal will hand Delfin 38.99 percent stake in EssilorLuxottica, above a 30 percent threshold that under French law would automatically trigger a buyout offer Further company coverage: [ESSI.PA] [LUX.MI] (Reporting by Milan Newsroom).  Full Article

Proposed combination of Essilor and Luxottica is progressing
Thursday, 23 Mar 2017 12:45pm EDT 

Essilor SA : Proposed combination of Essilor and Luxottica progressing . Transfer by Essilor International of its activities and shareholdings to its fully-owned subsidiary, Delamare Sovra, to be renamed Essilor International . Contribution by Delfin of all its shares in Luxottica (62.55%) in exchange for new shares issued by Essilor, based on an exchange ratio of 0.461 Essilor share for one Luxottica share .Filing and registration with AMF, by April 10, 2017 at latest, of information document describing rationale for transaction as well as main principles of combination agreement.  Full Article

Luxottica CEO says Essilor merger proceeding according to schedule
Thursday, 2 Mar 2017 04:41am EST 

Luxottica Group CEO Massimo Vian tells analyst call: Everything going according to schedule in relation to merger agreed with Essilor Further company coverage: [LUX.MI] (Reporting by Milan Newsroom).  Full Article

BRIEF-Luxottica says 2016 adj EBIT 1.43 bln euros
Wednesday, 1 Mar 2017 11:51am EST 

Luxottica Group says: Adjusted EBIT down 0.7 percent to 1.43 billion euros versus Thomson Reuters SmartEstimate of 1.42 billion euros . Net profit up 3.3 percent in 2016 to 882 million euros . To pay dividend of 0.92 euros per share on 2016 results up 3.4 percent versus previous year . Operating margin 15.8 percent in 2016 versus 16 percent in 2015 . Sees 2017 sales growth of "low to mid single-digits" at constant exchange rates . Sees 2017 adjusted operating income rising 0.8-1.0 times the increase in sales . Sees 2017 adjusted net income rising in line with sales .Sees 2017 net debt/EBITDA ratio of around 0.5 times.  Full Article

Essilor predicts less bolt-on acquisitions this year
Friday, 17 Feb 2017 02:45am EST 

Essilor chief operating officer Laurent Vacherot says: sees uncertain global political context, notably in Europe and the United States . sees no improvement in Brazil economy . time frame of planned merger with Italy's Luxottica unchanged, sees less bolt-on acquisitions this year Further company coverage: [ESSI.PA] (Paris newsroom).  Full Article

Essilor says expects 2017 revenue growth of between 6 and 8 pct
Friday, 17 Feb 2017 12:38am EST 

Essilor Sa : Says profit attributable to equity holders up 7.4% versus 5.9 pct revenue growth . Board of directors recommends that shareholders at annual meeting on may 11, 2017 approve payment of a dividend of eur 1.50 per share, an increase of 35.1 pct compared with 2015 dividend . Overall, Essilor is forecasting revenue growth (excluding currency effects) of between 6 pct and 8 pct including between 3 pct and 5 pct on a like-for-like basis . Due to progressive effect of initiatives to be implemented over course of year and comparison basis, group expects a higher level of growth and profitability in second half of year versus first half Further company coverage: [ESSI.PA] ((paris.newsroom@thomsonreuters.com; +33 1 49 49 54 52;)).  Full Article

Luxottica shares to be delisted as result of Essilor deal
Monday, 16 Jan 2017 01:17am EST 

Essilor /Luxottica : Transaction would entail Delfin contributing its entire stake in Luxottica (approx. 62%) to Essilor in return for newly-issued Essilor shares to be approved by the Essilor shareholders meeting, on the basis of the exchange ratio of 0.461 Essilor shares for 1 Luxottica share . Essilor subsequently making a mandatory public exchange offer, in accordance with the provisions of Italian law, to acquire all of the remaining issued and outstanding shares of Luxottica pursuant to the same exchange ratio and with a view to delist Luxottica's shares . Essilor would become a holding company with the new name "EssilorLuxottica" via a hive-down of all of its operating activities into a wholly-owned company, to be called Essilor international, and the contribution by Delfin of its Luxottica shares . Following the transaction, Delfin would own between 31% and 38% of the shares of EssilorLuxottica and would be its largest shareholder Further company coverage: [ESSI.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

Essilor appoints Laurent Vacherot as president and chief operating officer
Wednesday, 7 Dec 2016 01:00am EST 

Essilor Sa : Essilor realigns its organization with its growing businesses .Appoints Laurent Vacherot as president and chief operating officer.  Full Article

UPDATE 1-Luxottica sees strong adj. net profit growth after FY sales meet guidance

MILAN, Jan 29 Italy's Luxottica, the world's biggest eyewear maker, sees 2017 adjusted net income growing strongly after a robust fourth quarter helped it to meet its full-year sales guidance.